An excise tax
A)is a sales tax on the purchase of a particular good or service.
B)is a tax on the profits earned from the sale of an asset.
C)represents a surcharge on corporate profits beyond the normal corporate tax rate.
D)is a tax on income-earning rental property.

Question

Quizplus · Accepted Answer

An excise tax is a type of tax that is levied on the purchase of a specific good or service, such as gasoline or alcohol. It is different from a sales tax, which is usually a percentage of the total purchase price of a variety of goods and services.

An Excise Tax